Let's see if we can do better posting this week than last week...

Watch 74.25-.75 on this checkback for clues.

ABCD at key line, right at the stated area. This is it. Two areas playing off against each other. They have to decide.

It looks like down.

Wow, I actually typed that before they dumped it, and it flushed while it was still in cyberspace.

Now they shoot for the upper 70's into the close??? A try at the highs? It's back to the key line right in here that sent it down. If they get that, it should squirt up.

Just amazing how it doesn't like that line. Truly amazing to watch.

And out of gas it was, and 76.75 was the high. I didn't expect a roll to the low end of the range (even though, recall, that is my theory for days like this, as previously explained and stated), I thought they'd more likely just keep grinding it up (which is also part of the theory, for those that e-mailed me for details). Nonetheless, the area was extremely clear, and see it it did.

Originally posted by jimkane

Keep an eye on how the ES handles this 76.75 area here. I see nothing but new highs off this sweet ABCD it put in, but if they are out of gas, this is a spot to watch.

It looks they are still interested in down scenario.

P.S. The above was posted, by my data and charts, within one minute of the high tick. Given the lag time for the post to print, I was typing just about as it hit the high tick. I wasn't even going to post it, as I was 'busy' at the time. I'll try to post them more 'in advance', as I usually do. But, since any move I'd do would require a trigger off an area, there was plenty of time, for anyone trying to follow and study in real-time, to utilize this information.

P.S.S. I hope everyone who worked up the initial high area can see the line that stopped the drop, dead in its tracks.

In my opinion they did what wanted to do. Last move up before close was to keep faith into rising. Globex will sent SPY back below 200 daily moving average. We will also see pretty “island reversal” on daily chart.

They have long term plan and executing it. I think currently they have full wallet of shorts. Probably they see bigger money in bankruptcy European Countries then in printing money.

Of course „We will see”